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China's national average benchmark price for Q235B grade 4.75mm hot-rolled coil climbed by Yuan 13/tonne ($2.1/t) on week to Yuan 4,328/t including 16% VAT as of June 15 as traders had to follow steelmakers and pass along their higher procurement costs for coils to protect their profit margins.
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Stocks of construction steel long products including rebar and wire rod at the 139 steelmakers across China regularly monitored by Mysteel decreased further over the week of June 7-13, losing another 9% on week to 2.29 million tonnes, according to Mysteel's latest survey.
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Inventories of the five major finished steel products at Chinese traders and mills as gauged by Mysteel continued to slide during the week of June 7-June 13, according to latest survey findings released on June 14 and 15 respectively. Respondents mostly cited the tightness of market supply for the reason, saying the environmental protection policies being enforced by the central government have caused disruptions to production.
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Stocks of construction steel including rebar and wire rod at the 139 steelmakers across China regularly monitored by Mysteel decreased by 2.8% on week during the week of May 31-June 6, the latest survey showed.
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China's national average benchmark price for Q235B grade 4.75mm hot-rolled coil climbed by Yuan 28/tonne ($4.4/t) on week to Yuan 4,315/t including 16% VAT as of June 8.
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The Q235 billet price in Tangshan, North China's Hebei province, is with the potential for further gains in the coming days with the anticipated supply constraints, market sources shared.
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Five major steel products inventories at millsUnit: ‘000 tonnes
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Stocks of construction steel including rebar and wire rod at the 139 steelmakers across China regularly monitored by Mysteel decreased by 5.2% on week during the May 24-30 week, the latest weekly survey showed.
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China's national average benchmark price for Q235B grade 4.75mm hot-rolled coil climbed by Yuan 58/tonne ($9.2/t) on week to Yuan 4,287/t including 16% VAT as of June 1.
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Stocks of the five most-consumed carbon steel products at Chinese trading houses - comprising rebar, wire rod, hot rolled and cold rolled coils and medium plate - continued to slip over the past week, declining by 5.1% on week to 10.8 million tonnes as of May 30, according to Mysteel's latest inventory survey published on May 31.
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Edited by www.mysteel.net
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Edited by www.mysteel.net
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The price of Q235 billet in Tangshan in North China's Hebei province inched up by Yuan 10/tonne ($1.6/t) on week to Yuan 3,620/t EXW including the 16% VAT as of May 25. Sellers could pressure buyers by pointing to the significant drop in stocks of the semis, so market watchers said.
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Stocks of construction steel including rebar and wire rod at the 139 steelmakers across China monitored by Mysteel increased by 2.7% on week during the May 17-23 week, mainly due to the continued slow demand and bearish market sentiment ahead of the upcoming off season, Mysteel's latest weekly survey showed.
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China's national average benchmark price for Q235B grade 4.75mm hot-rolled coil dropped by Yuan 6/tonne ($1/t) on week to Yuan 4,229/t including 16% VAT as of May 25. Traders had noted the wait-and-see sentiment prevailing in the market and so opted to lower their offer prices slightly, hoping to generate quick sales, market sources explained.
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Stocks of the five most-consumed carbon steel products at Chinese trading houses - comprising rebar, wire rod, hot rolled and cold rolled coils and medium plate - continued to slip and at a faster pace over the past week, dipping by 6.4% on week to 11.3 million tonnes as of May 23, according to Mysteel's latest inventory survey published on May 24.
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China's national average benchmark price for the Q235B 4.75mm HRC up Yuan 43/tonne ($6.8/t) on week to Yuan 4,235/t including 16% VAT as of May 18, as market sentiment remained sound with lower output and relatively low stocks, market source shared.
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Construction steel stocks at the 139 surveyed steelmakers across China returned to the downtrend with a minor 0.14% week-on-week slip over the week of May 10-16 after a short-lived rebound over the previous week amid the cautiousness among the traders for restocking, Mysteel's latest weekly survey showed.
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The price of Q235 billet in Tangshan in North China's Hebei province reversed up by Yuan 50/tonne ($7.9/t) on week to Yuan 3,630/t EXW including the 16% VAT as of May 18. Market watchers said that despite the rise in supply, steelmakers and traders were keen to lift prices on the back of the declining inventories.
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Stocks of the five major carbon-steel products held by China's traders dropped further over May 10-16 but the pace of the on-week decrease was slower, Mysteel has found. Chinese buyers of rebar, wire rod, hot rolled and cold rolled coils and medium plate were anticipating further price declines and thus showed little interest in restocking.
